While it is still early to say if the seniors housing and care market is showing strong and durable signs of a recovery, several indicators from the NIC MAP® Data, powered by NIC MAP Vision, and from NIC Analytics have sparked cautious optimism and suggest that we may be at least at the bottom of the cycle. Occupancy rates may have reached the low point in February and March of 2021; however, the outlook for when occupancy will return to pre-pandemic levels remains a question.
Medicare Patient Day Mix Continues Decline. NIC MAP® Data Service, powered by NIC MAP Vision, released its latest Skilled Nursing Monthly Report on June 3, 2021, which includes key monthly data points from January 2012 through March 2021.
The NIC MAP® Data Service, powered by NIC MAP Vision, recently released national monthly data through March 2021 for actual rates and leasing velocity. In this release, NIC MAP also provided data on three metropolitan areas: Atlanta, Philadelphia, and Phoenix.
The NIC MAP® Data Service, powered by NIC MAP Vision, an affiliate of NIC, tracks occupancy, asking rents, demand, inventory, and construction data for independent living, assisted living, memory care, skilled nursing, and continuing care retirement communities (CCRCs—also referred to as life plan communities) for more than 15,000 properties across 140 metropolitan areas. NIC MAP data currently tracks 1,208 not-for-profit and for-profit entrance fee and rental CCRCs in these 140 combined markets (1,134 in the 99 combined Primary and Secondary Markets).